USAID supports access to alternative forms of financing

The United States Agency for International Development (USAID), through the U.S government’s feed the future financing Ghanaian agriculture project (USAID FinGAP) and the Ghana Stock Exchange (GSE) has held a workshop on “leveraging the capital market to drive business growth for enhanced economic development in Accra.

The workshop was attended by over 100 members of the Ghana National Chamber of Commerce and Industry (GNCCI), the association of Ghana industries, the federation of association of Ghanaian exporters, the Institute of Financial and Economic Journalists, and representatives of the Kosmos energy innovation Centre. In attendance were the president of the Ghana Chamber of Commerce and Industry (GCCI) Nana Appiagyei Dankawoso I, Managing director of GSE, Kofi Amoah, chief executive officer of the AGI Seth Twum Akwaboah, and the Deputy Chief of Party of USAID finGAP Dr. Victor Antwi.

The workshop promoted competitive sources of alternative financing and opportunities for Ghana businesses. The event featured presentations on the benefits of listing securities on the GSE, Ghana alternative market (GAX) and Ghana fixed income market (GFIM). The presentations focused on the preconditions for listing and raising financing on the capital market. The highlight of the event was the registration of businesses interested in listing securities on capital market.

To date, USAID FinGAP has unlocked over $158 million in private capital for 2,846 nagribusinesses-40 percent being female-led enterprises. These development efforts have reached over 162,000 smallholder farmers in maize, rice, and soy value chains. USAID FinGAP is also pursuing the development of alternative sources of financing for agribusesses through the listing of debt or equity securities on the GFIM and GAX.

Feed the future is the United States government’s global hunger and food security initiative. Feed the future supports partner countries in developing their agriculture sectors to spur economic growth and trade that increase incomes and reduce hunger, poverty and under nurturing.

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